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What: Shares of land-based petroleum driller Pioneer Drilling
So what: The company just announced that its secondary stock offering is getting fatter: underwriters Jeffries and Goldman & Sachs
Now what: Pioneer plans to use this cash to build more drilling rigs, also known as striking while the iron is hot. That takes drastic measures like secondary offerings because the company has a tendency to burn more cash than it generates. Pioneer may run a tighter ship than rivals Hercules Offshore
CAPS investors are smitten with this five-star stock with the last thumbs-down rating coming up fast on its one-year anniversary and the most recent negative comment nearly two-and-a-half years old. Jump over to CAPS to voice your own appreciation -- or to swim upstream with a rare criticism.
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Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.